Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Organigram Inc. (OGI-T) reported net revenue of $30.4-million for its first quarter ended Nov. 30, which it said was up 57 per cent from the same prior-year period. The expectation was for net revenue to come in at $29.4-million, according to S&P Capital IQ.
Its net loss was $1.3-million, compared to a net loss of $34.3-million a year earlier “primarily due to the higher gross margin in the current quarter along with fair value adjustments on biological assets and inventories sold,” the company stated.
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Pure Gold Mining Inc. (PGM-X) said it has taken proactive measures in response to the “small but increasing” number of positive COVID-19 cases at its PureGold Mine over the last several days.
The company said it has followed stringent health and safety measures since the start of the pandemic.
“For a temporary period, administrative staff are working remotely where possible and other on-site staff has been reduced to essential workers only,” the company stated, adding that production is expected to continue “albeit at a slightly reduced rate.”
The company said it expects to make up any production shortfall shortly after returning to full production.
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Lundin Gold Inc. (LUG-T) reported fourth quarter gold production of 107,915 ounces from its Fruta del Norte gold mine in southeast Ecuador, resulting in total gold production of 428,514 ounces for the year.
The company said that exceeded its 2021 guidance of 380,000 to 420,000 ounces.
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Total Energy Services Inc. (TOT-T) announced its preliminary 2022 capital expenditure budget of $26.1-million, including $6.7-million of expansion capital and $19.4-million for equipment maintenance and upgrades.
Total said it intends to finance its preliminary 2022 capital expenditure budget with cash on hand and cash flow from operations.
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Playmaker Capital Inc. (PMKR-X) announced the acquisition of Mexico-based video-first sports platform, Cracks, a soccer-centric collection of digital media assets for about US$1.7 million.
Playmakers said the price includes a cash payment of US$0.4 million on closing and cash payments of up to a maximum of US$1.3 million payable to the seller upon Cracks achieving certain milestones and performance related targets over the 12-months following closing.
“The acquisition of Cracks establishes video production and monetization as a new centre of excellence for Playmaker, complementing its existing robust in-house editorial expertise across its multiple web properties, social media channels, mobile apps, and fan pages,” the company stated.
Playmaker said Cracks has a total audience across all channels in excess of 12.6 million subscribers worldwide, including the most followed Spanish-language sports news channels on YouTube.
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